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State Credit Union Data Show Growth in All Major Categories

Federally insured credit unions experienced continued improvement in nearly every category in the second quarter of 2016, according to state-level data (opens new window) compiled by NCUA.

Nationally, median loan growth in federally insured credit unions was 4.3 percent during the year ending in the second quarter. In the same period, median asset growth was 3.2 percent, the median rate of growth in deposits and shares was 3.3 percent, and the median loans-to-shares ratio rose to 62 percent.

Nevada, Washington Lead in Median Loan Growth

Nationally, median growth in loans outstanding was 4.3 percent over the year ending in the second quarter of 2016, up from 4.0 percent the previous year. The highest median growth rates for loans were in Nevada (10.0 percent) and Washington (9.2 percent). In comparison, median loan growth was slowest in Pennsylvania (0.8 percent) and the District of Columbia (1.3 percent).

South Carolina, Nevada Lead in Median Asset Growth

Median asset growth was 3.2 percent nationally in the year ending in the second quarter of 2016, up from 1.9 percent a year earlier. Median asset growth was fastest in South Carolina and Nevada (both 6.4 percent). Median asset growth was slowest in Louisiana (0.8 percent) and Connecticut (0.9 percent).

At the median, shares and deposits rose in every state over the year ending in the second quarter. The median growth rate in shares and deposits was 3.3 percent, up from 1.8 percent a year earlier.

The median growth rate in shares and deposits was highest in Idaho (7.3 percent) and Washington (6.5 percent). The median growth rate in shares and deposits was lowest in Louisiana (0.7 percent) and the District of Columbia (0.9 percent).

Vermont, Nevada Lead on Annualized Returns on Average Assets

Nationally, the median annualized return on average assets at federally insured credit unions was 35 basis points in the first half of 2016, up from 33 basis points in the first half of 2016.

Vermont (72 basis points) had the highest median return on average assets in the first half of the year, followed by Nevada (71 basis points). Delaware (6 basis points) reported the lowest median return, followed by New Jersey and the District of Columbia (both 18 basis points).

Idaho and Alaska Again Report Highest Median Loans-to-Shares Ratios

Nationally, the median ratio of loans outstanding to total shares and deposits was 62 percent at the end of the second quarter of 2016, compared to 60 percent a year earlier. The median loans-to-shares ratio was highest among credit unions in Idaho and Alaska (both 86 percent). The median loans-to-shares ratio was lowest in Delaware (44 percent) and Hawaii (45 percent).

More Credit Unions Reporting Positive Net Income

Nationally, 79 percent of federally insured credit unions had positive net income during the first half of 2016, up from 77 percent in the first half of 2015.

At least half of credit unions in every state had positive net income in the first half of this year. The share of credit unions with positive net income was highest in Nevada (100 percent) and North Dakota (95 percent). The share was lowest in Delaware (55 percent), followed by Arkansas, New Jersey and the District of Columbia (all 66 percent).

Median Total Delinquency Rate Down Slightly

The median total delinquency rate at federally insured credit unions was 0.7 percent nationally in the second quarter of 2016, down from 0.8 percent a year earlier. At the end of the second quarter, the median delinquency rate was lowest in New Hampshire (0.3 percent) and highest in New Jersey (1.7 percent), followed by Delaware and the District of Columbia (both 1.3 percent).

Membership Growth Continues in Larger Credit Unions

Overall, credit union membership continued its growth during the year ending in the second quarter of 2016; however, at the median, it was unchanged.

Zero median membership growth means that, overall, 50 percent of federally insured credit unions had fewer members at the end of the second quarter of 2016 compared with a year earlier, while 50 percent had more members. The median membership growth rate was negative 0.3 percent in the previous year.

Falling membership continued to be concentrated in smaller credit unions. Approximately 75 percent of credit unions with declining membership had assets of less than $50 million.

Alaska (3.1 percent) had the highest median membership growth rate over the year ending in the second quarter of 2016, followed by Idaho (2.4 percent). Median membership growth was negative in 18 states. At the median, Pennsylvania membership declined the most (-1.6 percent).

NCUA’s Quarterly U.S. Map Review tracks performance indicators for federally insured credit unions in all 50 states and the District of Columbia. The review also includes information on two key state-level economic indicators: unemployment rates and home price changes.